UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934

    For the quarterly period ended _____September 30, 2006_____
                               or
  [ ]Transition Report Pursuant to Section 13 or 15(d) of the Se
curities Exchange Act of 1934

    For the transition period from _____________ to____________

    Commission File Number ______________0-13402_______________

    ____________ Brauvin Real Estate Fund L.P. 4_______________
    (Name of small business issuer as specified in its charter)

               Delaware                      36-3304339________
(State or other jurisdiction of          (I.R.S. Employer
     incorporation or organization)    Identification No.)

    30 North LaSalle Street, Chicago, Illinois        60602____
     (Address of principal executive offices)      (Zip Code)

    ____________________ (312)759-7660_________________________
                  (Issuer's telephone number)

    Securities registered pursuant to Section 12(b) of the Act:
    Title of each class              Name of each exchange on
                                           which registered
               None                             None___________

    Securities registered pursuant to Section 12(g) of the Act:
                  Limited Partnership Interests________________
                        (Title of class)

Check  whether  the issuer (1) filed all reports required  to  be
filed by Section 13 or 15(d) of the Exchange Act during the  past
12  months  (or  for  such shorter period  that  the  issuer  was
required to file such reports), and (2) has been subject to  such
filing  requirements  for the past  90  days.   Yes      X     No
..

Indicate by check mark whether the registrant is a shell  company
(as defined by Rule 12b-2 of the Exchange Act).  Yes     No   X.


                              INDEX
                             PART I
                                                           Page

Item 1.   Financial Statements                               3

          Consolidated Statement of Net Assets in Liquidation
          as of September 30, 2006(Liquidation Basis)        4

          Consolidated Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2006 to
          September 30, 2006 (Liquidation Basis)             5

          Consolidated Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2005 to
          September 30, 2005 (Liquidation Basis)             6

          Consolidated Statements of Operations for the
          nine months ended September 30, 2006 and 2005
          (Liquidation Basis)                                7

          Consolidated Statements of Operations for the
          three months ended September 30, 2006 and 2005
          (Liquidation Basis)                                8

          Notes to Consolidated Financial Statements         9

Item 2.   Management's Discussion and Analysis or Plan
          of Operation                                      20

Item 3.   Controls and Procedures                           25

                             PART II

Item 1.   Legal Proceedings                                 26

Item 2.   Changes in Securities                             26

Item 3.   Defaults Upon Senior Securities                   26

Item 4.   Submission of Matters to a Vote of Security
          Holders                                           26

Item 5.   Other Information                                 26

Item 6.   Exhibits, and Reports on Form 8-K                 26

Signatures                                                  27




                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)



                 PART I - FINANCIAL INFORMATION

ITEM 1.   Financial Statements

 The   following   Consolidated  Statement  of  Net   Assets   in
Liquidation  as  of  September  30,  2006  (Liquidation   Basis),
Consolidated  Statement of Changes in Net Assets  in  Liquidation
for the period January 1, 2006 to September 30, 2006 (Liquidation
Basis),  Consolidated  Statement of  Changes  in  Net  Assets  in
Liquidation for the period January 1, 2005 to September 30,  2005
(Liquidation  Basis), Consolidated Statements of  Operations  for
the  nine  months ended September 30, 2006 and 2005  (Liquidation
Basis)  and Consolidated Statements of Operations for  the  three
months ended September 30, 2006 and 2005 (Liquidation Basis)  for
Brauvin Real Estate Fund L.P. 4 (the "Partnership") are unaudited
but  reflect,  in the opinion of the management, all  adjustments
necessary to present fairly the information required.   All  such
adjustments are of a normal recurring nature.

 These  financial  statements should be read in conjunction  with
the  financial  statements  and notes  thereto  included  in  the
Partnership's 2005 Annual Report on Form 10-KSB.


                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)


    CONSOLIDATED STATEMENT OF NET ASSETS IN LIQUIDATION AS OF
             SEPTEMBER 30, 2006 (LIQUIDATION BASIS)
                           (Unaudited)

ASSETS

Real estate held for sale                     $6,026,500
Cash and cash equivalents                        645,940
Tenant receivables                                23,274
Escrow deposits                                  403,625
Other assets                                      35,852
                                              ----------
  Total Assets                                 7,135,191
                                              ----------

LIABILITIES

Mortgage notes payable (Note 4)                4,400,000
Accounts payable and accrued expenses            543,559
Deferred gain on sale of real estate (Note 2)    464,312
Reserve for estimated costs during
  the period of liquidation                      188,400
Tenant security deposits                          13,090
Due to affiliates                                  3,200
                                              ----------
  Total Liabilities                            5,612,561
                                              ----------

Net Assets in Liquidation                     $1,522,630
                                              ==========












  See accompanying notes to consolidated financial statements.




                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)


 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
                               FOR
        THE PERIOD JANUARY 1, 2006 TO SEPTEMBER 30, 2006
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net assets in liquidation
  at January 1, 2006                          $2,092,903

Loss from operations                            (570,273)
                                              ----------
Net assets in liquidation
  at September 30, 2006                       $1,522,630
                                              ==========




























  See accompanying notes to consolidated financial statements.




                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)


 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
                               FOR
        THE PERIOD JANUARY 1, 2005 TO SEPTEMBER 30, 2005
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net assets in liquidation
  at January 1, 2005                          $1,824,095

Loss from operations                            (182,894)
                                              ----------
Net assets in liquidation
  at September 30, 2005                       $1,641,201
                                              ==========



























  See accompanying notes to consolidated financial statements.



                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)


              CONSOLIDATED STATEMENTS OF OPERATIONS
      FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                       (LIQUIDATION BASIS)
                           (Unaudited)

                               2006           2005
                            ---------     ----------
INCOME
Rental                     $  532,044     $  550,650
Interest                       16,366            801
Other, primarily tenant
  expense reimbursements      120,348        110,994
                           ----------     ----------
  Total income                668,728        662,445
                           ----------     ----------

EXPENSES
Interest                      240,356        328,743
Real estate taxes              83,367         90,134
Repairs and maintenance        20,309         18,766
Management fees (Note 5)       37,676         39,217
Other property operating       30,164         32,062
General and administrative    815,804        322,036
                           ----------     ----------
  Total expenses            1,227,676        830,958
                           ----------     ----------

Loss before
  equity interests           (558,948)      (168,513)

Equity interest in Sabal
  Palm Joint Venture's
  net loss                    (11,325)       (14,381)
                           ----------     ----------

Net loss                   $ (570,273)    $ (182,894)
                           ==========     ==========

Net loss allocated
  to the General Partners  $   (5,703)    $   (1,829)
                           ==========     ==========

Net loss allocated
  to the Limited Partners  $ (564,570)    $ (181,065)
                           ==========     ==========

Net loss per
  Limited Partnership
  Interest (9,550 units
  outstanding)             $   (59.12)    $   (18.96)
                           ==========     ==========





  See accompanying notes to consolidated financial statements.



                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)


              CONSOLIDATED STATEMENTS OF OPERATIONS
     FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                       (LIQUIDATION BASIS)
                           (Unaudited)

                                2006          2005
                            ----------      --------
INCOME
Rental                      $ 173,704       $185,533
Interest                        6,079             28
Other, primarily tenant
  expense reimbursements       32,111         41,089
                            ---------       --------

  Total income                211,894        226,650
                            ---------       --------

EXPENSES
Interest                       84,244        128,462
Real estate taxes              25,984         30,310
Repairs and maintenance        12,343         12,565
Management fees (Note 5)       11,211         13,186
Other property operating        9,065          9,593
General and administrative    217,987         51,973
                            ---------       --------
  Total expenses              360,834        246,089
                            ---------       --------

Loss before
  equity interests           (148,940)       (19,439)

Equity interest in Sabal
  Palm Joint Venture's
  net (loss) income                --         21,305
                           ----------       --------

Net (loss) income          $(148,940)       $  1,866
                           =========        ========

Net (loss) income allocated
  to the General Partners  $  (1,489)       $     19
                           =========        ========

Net (loss) income allocated
  to the Limited Partners  $(147,451)       $  1,847
                           =========        ========

Net loss per
  Limited Partnership
  Interest (9,550 units
  outstanding)             $  (15.44)       $   0.19
                           =========        ========

  See accompanying notes to consolidated financial statements.




                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                          (Unaudited)


(1)  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   The  financial statements consolidate the accounts of  Brauvin
Real Estate Fund L.P. 4 (the "Partnership") and a 47% interest in
another  joint venture, which is accounted for using  the  equity
method of accounting.

   The  Partnership  is a Delaware limited partnership  organized
for  the  purpose of acquiring, operating, holding for investment
and  disposing  of  existing  office  buildings,  medical  office
centers,  shopping  centers and industrial and retail  commercial
buildings of a general purpose nature, all in metropolitan areas.
The  General  Partners of the Partnership are  Brauvin  Ventures,
Inc.  and Jerome J. Brault.  Mr. Cezar M. Froelich resigned as  a
director  of the corporate general partner in December 1994,  and
resigned as an Individual General Partner effective 90 days  from
August 14, 1997. Brauvin Ventures, Inc. is owned by A.G.E. Realty
Corporation Inc.(50%), and by Messrs. Brault (beneficially) (25%)
and  Froelich  (25%).   A. G. Edwards & Sons,  Inc.  and  Brauvin
Securities,  Inc., affiliates of the General Partners,  were  the
selling agents of the Partnership.  The Partnership is managed by
an affiliate of the General Partners.

   The  General  Partners of the Partnership filed a Registration
Statement   on  Form  S-11  with  the  Securities  and   Exchange
Commission which became effective on February 16, 1984.  The sale
of  the minimum of $1,200,000 of limited partnership interests of
the  Partnership (the "Units") necessary for the  Partnership  to
commence  operations  was achieved on  April  30,  1984  and  the
Partnership  was  formed.  The Partnership's offering  closed  on
December  31,  1984.   A  total  of  $9,550,000  of  Units   were
subscribed and issued between February 16, 1984 and December  31,
1984 pursuant to the Partnership's public offering.

   Properties  acquired  by the Partnership  either  directly  or
indirectly  through affiliated joint ventures were:  (a)  Fortune
Professional Building (which was sold February 2003); (b) Raleigh
Springs  Marketplace; (c) Strawberry Fields Shopping Center(which
was  sold  in July 2001) and (d) Sabal Palm Shopping Center(which
was sold in December 2005).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   Management's Use of Estimates

   The  preparation  of financial statements in  conformity  with
generally  accepted accounting principles requires management  to
make  estimates and assumptions that affect the reported  amounts
of assets and liabilities and disclosure of contingent assets and
liabilities  at  the  date of the financial  statements  and  the
reported  amounts of revenues and expenses during  the  reporting
period.  Actual results could differ from those estimates.

   Basis of Presentation

   As  a  result of the July 12, 1999 authorization by a majority
of the Limited Partners to sell the Partnership's properties, the
Partnership has begun the liquidation process and, in  accordance
with  generally accepted accounting principles, the Partnership's
financial statements for periods subsequent to July 12, 1999 have
been   prepared   on   the  liquidation  basis   of   accounting.
Accordingly, the carrying values of assets are presented at their
net realizable amounts and liabilities are presented at estimated
settlement  amounts,  including estimated costs  associated  with
carrying  out  the  liquidation.  Preparation  of  the  financial
statements   on   a   liquidation  basis   requires   significant
assumptions  by management, including the estimate of liquidation
costs  and  the resolution of any contingent liabilities.   There
may be differences between the assumptions and the actual results
because  events  and circumstances frequently  do  not  occur  as
expected.  Those differences, if any, could result in a change in
the  net  assets  recorded  in the statement  of  net  assets  in
liquidation as of September 30, 2006.

   Accounting Method

   The  accompanying consolidated financial statements have  been
prepared using the accrual method of accounting.

   Tenant Receivables

   Tenant   receivables  are  comprised   of   (a)   billed   but
uncollected  amounts due for monthly rents and other charges  and
(b)  estimated  unbilled amounts due for tenant reimbursement  of
common  area maintenance charges and property taxes.  Receivables
are  recorded at management's estimate of the amounts  that  will
ultimately  be collected. An allowance for doubtful  accounts  of
$29,269  is  based  on specific identification  of  uncollectible
accounts and the Partnership's historical collection experience.

   Federal Income Taxes

   Under  the  provisions  of  the  Internal  Revenue  Code,  the
Partnership's income and losses are reportable by the partners on
their  respective income tax returns.  Accordingly, no  provision
is made for Federal income taxes in the financial statements.


   Principles of Consolidation

   The  Partnership  has one affiliate, Brauvin  Raleigh,  L.L.C.
which  is  owned  100% by the Partnership.  The accounts  of  the
Partnership   have  been  consolidated  with  its  wholly   owned
subsidiary   in  the  accompanying  financial  statements.    All
significant  intercompany  balances and  transactions  have  been
eliminated upon consolidation.

   Investment in Joint Venture Partnership

   The  Partnership  owned a 47% equity interest  in  Sabal  Palm
Joint  Venture  (see  Note 6).  Sabal Palm  was  reported  as  an
investment  in  an  affiliated joint venture.   The  accompanying
financial  statements include the investment in Sabal Palm  Joint
Venture at estimated net realizable value using the equity method
of accounting.

   On  December  7,  2005 the joint venture sold the  Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the sale of $1,189,925.


   Investment in Real Estate

   Prior  to the preparation of the financial statements  on  the
liquidation   basis  of  accounting,  the  operating   properties
acquired  by  the  Partnership  were  stated  at  cost  including
acquisition  costs, leasing commissions, tenant improvements  and
net  of  impairment. Depreciation and amortization  expense  were
computed  on a straight-line basis over approximately 31.5  years
and  the  term  of  the  applicable  leases,  respectively.   The
Partnership's  remaining property is subject to a  lien  under  a
first mortgage (see Note 4).

   Subsequent  to  the  adoption  of  the  liquidation  basis  of
accounting  (see Note 2), the Partnership adjusted its investment
in  real  estate  to  estimated net realizable  value,  which  is
recorded  as  real  estate  held  for  sale.   Additionally,  the
Partnership suspended recording any further depreciation expense.

   The  Partnership has adopted Statement of Financial Accounting
Standards  No. 141, "Business Combinations" ("SFAS  141").   SFAS
141  requires  the  purchase method of  accounting  for  business
combinations  initiated after June 30, 2001  and  eliminates  the
pooling-of-interests  method.  In  July  2001,  the  FASB  issued
Statement  of  Financial Accounting Standards No. 142,  "Goodwill
and  Other  Intangible Assets" ("SFAS 142"), which  is  effective
January  1,  2002.   SFAS 142 requires, among other  things,  the
discontinuance  of  goodwill  amortization.   In  addition,   the
standard includes provisions for the reclassification of  certain
existing  intangibles,  reassessment  of  the  useful  lives   of
existing intangibles, reclassification of certain intangibles out
of   previously  reported  goodwill  and  the  identification  of
reporting  units  for  purposes  of  assessing  potential  future
impairments of goodwill.

   The  Partnership has adopted Statement of Financial Accounting
Standards No. 144, "Accounting for the Impairment or Disposal  of
Long-Lived   Assets"  ("SFAS  144").   SFAS   144   retains   the
recognition and measurement requirements of its predecessor,  but
resolves  significant  implementation issues.   In  addition,  it
applies  to  a  segment  of  a  business  accounted  for   as   a
discontinued operation.

   SFAS   144   has   not  had  a  significant  impact   on   the
Partnership's financial statements.


   Cash and Cash Equivalents

   Cash  and  cash  equivalents include all  highly  liquid  debt
instruments  with an original maturity within three  months  from
date of purchase.

   The  Partnership maintains its cash in bank deposit  accounts,
which,  at  times,  may  exceed federally  insured  limits.   The
Partnership  has  not experienced any losses  in  such  accounts.
Management  believes  the  Partnership  is  not  exposed  to  any
significant credit risk related to cash or cash equivalents.

   Estimated Fair Value of Financial Instruments

   Disclosure   of   the  estimated  fair  value   of   financial
instruments  is  made  in  accordance with  the  requirements  of
Statement of Financial Accounting Standards No. 107, "Disclosures
About  Fair Value of Financial Instruments".  The estimated  fair
value  amounts  have  been determined by using  available  market
information  and  appropriate valuation methodologies.   However,
considerable  judgement is necessarily required  in  interpreting
market data to develop estimates of fair value.

   The  fair  value  estimates  presented  herein  are  based  on
information available to management as of September 30, 2006, but
may  not  necessarily  be  indicative of  the  amounts  that  the
Partnership could realize in a current market exchange.  The  use
of different assumptions and/or estimation methodologies may have
a material effect on the estimated fair value amounts.

   In  connection with the adoption of the liquidation  basis  of
accounting, which approximates fair value at September 30,  2006,
assets  were  adjusted to net realizable value,  and  liabilities
were adjusted to estimated settlement amounts.

   Derivatives and Hedging Instruments

   In   June  1998,  the  Financial  Accounting  Standards  Board
("FASB")  issued Statement of Financial Accounting Standards  No.
133,   "Accounting   for  Derivative  Instruments   and   Hedging
Activities" ("SFAS 133"), which requires that all derivatives  be
recognized as assets and liabilities in the balance sheet and  be
measured at fair value.  SFAS 133 also requires changes  in  fair
value  of  derivatives  to be recorded  each  period  in  current
earnings or comprehensive income depending on the intended use of
the  derivatives.  In June, 2000, the FASB issued SFAS 138, which
amends  the  accounting and reporting standards of SFAS  133  for
certain derivatives and certain hedging activities.  SFAS 133 and
SFAS  138  were adopted by the Partnership effective  January  1,
2001.

     Variable Interest Entities

     In   January  2003,  FASB  issued  interpretation  No.   46,
"Consolidation of Variable Interest Entities" (FIN  46).  FIN  46
addresses  consolidation  by  business  enterprises  of   certain
variable interest entities in which the equity investors  do  not
have  the characteristics of a controlling financial interest  or
do  not  have sufficient equity at risk for the entity to finance
its  activities without additional subordinated financial support
from  other parties.  This interpretation was revised in December
2003  and  for  calendar year end entities, is  effective  as  of
December  31,  2003.  The Partnership does not own  any  "special
purpose  entities" (as defined).  The adoption of FIN 46 has  not
had   a   significant  impact  on  the  Partnership's   financial
statements.

   Liabilities and Equity Characteristics

   In  May  2003,  FASB issued Statement of Financial  Accounting
Standards  No. 150, "Accounting for Certain Financial Instruments
with  the Characteristics of both Liabilities and Equity"  ("SFAS
150"),  which is effective for all financial instruments  entered
into  or  modified after May 31, 2003, and is otherwise effective
beginning July 1, 2003.  SFAS 150 establishes standards  for  how
an  entity  classifies and measures certain financial instruments
with  characteristics  of  both  liabilities  and  equity.    The
adoption  of  SFAS 150 has not had a significant  impact  on  the
Partnership's financial statements.

   Recent Accounting Pronouncements

   During  2005,  FASB issued Interpretation No. 47,  "Accounting
for Conditional Asset Retirement Obligations" ("FIN 47") which is
effective  for  the Partnership's year ended December  31,  2005.
FIN  47  is  an interpretation of FASB Statement No.  143  "Asset
Retirement  Obligations."  Under this standard,  a  company  must
record  a liability for a conditional asset retirement obligation
if  the fair value of the obligation can be reasonably estimated.
The  adoption  of FIN 47 did not have a material  effect  on  the
Partnership's consolidated financial statements.

   SFAS  No.  153, "Exchanges of Nonmonetary Assets-an  amendment
of  APB  Opinion  29" issued by FASB in December 2004,  generally
requires  exchanges of productive assets to be accounted  for  at
fair  value  rather than carryover basis unless the  transactions
lack  commercial  substance.   SFAS  No.  153  is  effective  for
nonmonetary asset exchanges occurring in fiscal periods beginning
after June 15, 2005.  The adoption of this statement did not have
a  material  impact  on the Partnership's financial  position  or
results of operations.

   In  May  2005,  SFAS  No. 154, "Accounting Changes  and  Error
Corrections"  was  issued by FASB.  SFAS  No.  154  replaces  APB
Opinion  No. 20, "Accounting Changes" and SFAS No. 3,  "Reporting
Accounting  Changes  in  Interim  Financial  Statements."    This
statement requires voluntary changes in accounting policies to be
accounted  for retrospectively with prior periods to be  restated
as  if  the  newly  adopted policy had  always  been  used.   The
provisions  of  SFAS No. 154 could have an impact on  prior  year
financial   statements  if  the  Partnership  has  a  change   in
accounting policy.

   In  June  2005, FASB ratified its consensus in EITF Issue  04-
05,  "Determining  Whether  a General  Partner,  or  the  General
Partners  as a Group, Controls a Limited Partnership  or  Similar
Entity When the Limited Partners Have Certain Rights" (Issue  04-
05).    Issue  04-05  was  effective  for  all  new  or  modified
partnerships  after  June 29, 2005 and for all  new  partnerships
after  December 31, 2005.  The adoption of Issue  04-05  did  not
have an impact on the Partnership's financial statements.

(2) ADJUSTMENT TO LIQUIDATION BASIS

   On  July 12, 1999, in accordance with the liquidation basis of
accounting,  assets  were  adjusted to estimated  net  realizable
value  and  liabilities  were adjusted  to  estimated  settlement
amounts,  including estimated costs associated with carrying  out
the liquidation.

   Additionally,  a deferred gain was recorded  in  2003,  and  a
deferred  gain will be recognized in income on the completion  of
the property sale.


(3)  PARTNERSHIP AGREEMENT

   The  Partnership Agreement (the "Agreement") provides that 99%
of  the net profits and losses from operations of the Partnership
for  each  fiscal year shall be allocated to the Limited Partners
and  1%  of  net  profits  and losses from  operations  shall  be
allocated  to  the  General Partners.   The  net  profit  of  the
Partnership  from the sale or other disposition of a  Partnership
property  shall be allocated as follows:  first, there  shall  be
allocated to the General Partners the greater of:  (i) 1% of such
net  profits;  or (ii) the amount distributable  to  the  General
Partners as Net Sale Proceeds from such sale or other disposition
in  accordance with paragraph 2, section K of the Agreement;  and
second,  all remaining profits shall be allocated to the  Limited
Partners.  The net loss of the Partnership from any sale or other
disposition  of  a  Partnership property shall  be  allocated  as
follows:  99% of such net loss shall be allocated to the  Limited
Partners  and  1%  of  such net loss shall be  allocated  to  the
General Partners.

   The  Agreement  provides that distributions of Operating  Cash
Flow,  as defined in the Agreement, shall be distributed  99%  to
the Limited Partners and 1% to the General Partners.  The receipt
by  the General Partners of such 1% of Operating Cash Flow  shall
be  subordinated  to  the  receipt by  the  Limited  Partners  of
Operating  Cash  Flow  equal  to a  10%  per  annum,  cumulative,
non-compounded   return   on  their  Adjusted   Investment   (the
"Preferential  Distribution"), as such term  is  defined  in  the
Agreement.   In  the event the full Preferential Distribution  is
not  made  in  any  year (herein referred to as  a  "Preferential
Distribution Deficiency") and Operating Cash Flow is available in
following  years  in excess of the Preferential Distribution  for
said  year,  then the Limited Partners shall be paid such  excess
Operating  Cash  Flow  until  they  have  been  paid  any  unpaid
Preferential Distribution Deficiency from prior years.  Net  Sale
Proceeds,   as  defined  in  the  Agreement,  received   by   the
Partnership shall be distributed as follows:  (a) first,  to  the
Limited  Partners  until such time as the Limited  Partners  have
been  paid  an  amount  equal to the  amount  of  their  Adjusted
Investment; (b) second, to the Limited Partners until  such  time
as  the  Limited Partners have been paid an amount equal  to  any
unpaid  Preferential Distribution Deficiency; and (c) third,  85%
of  any remaining Net Sale Proceeds to the Limited Partners,  and
the  remaining  15%  of  the Net Sale  Proceeds  to  the  General
Partners.

   At   September   30,   2006,  the  Preferential   Distribution
Deficiency  exceeded  the  potential  liquidation  value  of  the
remaining Partnership assets.

(4)  MORTGAGE NOTES PAYABLE

   Mortgage  notes payable at September 30, 2006 consist  of  the
following:
                                    Interest     Date
                        Balance        Rate      Due
Raleigh Springs
  Marketplace          $ 4,400,000 LIBOR+ 2.25% 12/06


     Raleigh  Springs Marketplace serves as collateral under  the
respective nonrecourse debt obligation.

     On  March  11, 2002, the Partnership accepted a proposal  to
modify the Raleigh Springs Marketplace mortgage loan.  Under  the
terms of the proposal, the maturity date was extended to April 1,
2007.   The  loan, which continued to bear interest  at  10%  per
annum, required monthly installments of principal and interest of
$46,839 (based upon a 25 year amortization schedule) with a final
payment of unpaid interest and principal on April 1, 2007.

   On  November 17, 2005, the Partnership paid off the prior loan
(in  the amount of $3,910,423) from the proceeds from a new first
mortgage  loan  ("First Mortgage") in the amount  of  $4,400,000.
This  loan  requires payments of interest only and has a  twelve-
month maturity.  In addition, the Partnership has the ability  to
extend this loan for an additional twelve-month period (with  the
payment  of  an additional fee of $11,000).  Interest is  payable
based  on  the LIBOR rate plus 2.25%. On September 30,  2006  the
interest rate was approximately 7.58%.

   The  Partnership  was  also required to purchase  an  interest
rate  cap agreement with a maturity of December 15, 2006 in order
to  fix  the  underlying base rates of the  mortgage  (LIBOR)  at
6.45%.  The notional amount of the interest rate cap is identical
to  the  notional amount of the mortgage loan.   The  total  cost
related to the cap was $2,500.

   The  First  Mortgage  also required  the  establishment  of  a
$300,000  escrow  that  can be used for  the  payment  of  tenant
improvements and leasing commissions.

   The  First  Mortgage lender also required the  Partnership  to
create  a  special purpose entity, Brauvin Raleigh LLC, which  is
fully owned by the Partnership.  The Partnership transferred  its
ownership  interest  in the Raleigh Springs  Marketplace  to  the
special  purpose  entity.  The Partnership was also  required  to
enter  into a limited guaranty agreement.  Primarily,  under  the
terms  of  the  guaranty agreement the Partnership  will  not  be
personally  liable unless the Partnership or Brauvin Raleigh  LLC
commit  fraud  by  misapplication  or  misappropriation  of  cash
receipts.

   In  the fourth quarter of 2006, Brauvin Raleigh LLC began loan
extension  discussions with the First Mortgage  Lender.   Brauvin
Raleigh  LLC  is  currently completing the  requirements  of  the
extension.


 (5) TRANSACTIONS WITH AFFILIATES

   Fees  and  other expenses incurred or payable to  the  General
Partners  or their affiliates for the nine months ended September
30, 2006 and 2005 were as follows:

                                 2006            2005
                               -------          -------
Management fees                $37,676          $39,217
Reimbursable office expenses    71,050           57,150

   As  of  September  30,  2006, the  Partnership  had  made  all
payments to affiliates except for $3,200 for management fees.

(6)  EQUITY INVESTMENT

   The  Partnership  owns  a 47% interest  in  Sabal  Palm  Joint
Venture ("Sabal Palm") and accounts for its investment under  the
equity method.

     On  December 7, 2005, the joint venture sold the Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the  sale of $1,189,925.  Under the terms of the transaction, the
joint  venture was able to bill and retain the 2005  common  area
maintenance reimbursements.  Accordingly, in late December  2005,
the  joint  venture  billed the Sabal Palm tenants  approximately
$75,000  for  its common area reimbursement.  The  joint  venture
made  every effort to collect the remaining receivables from  the
Sabal Palm tenants.

   The  following  are condensed financial statements  for  Sabal
Palm:

                        Liquidation Basis
             For the nine months ended September 30,

                                    2006            2005
                                  -------        ---------

Rental income                    $     --        $ 367,765
Other income                        4,182           86,828
                                 --------        ---------
                                    4,182          454,593
                                 --------        ---------
Mortgage and
 other interest                        --          123,887
Operating and
 administrative expenses           31,950          361,303
                                 --------        ---------
                                   31,950          485,190
                                 --------        ---------

Net loss                         $(27,768)       $ (30,597)
                                 ========        =========

(7)  COMMITMENTS AND CONTINGENCIES

    In  late February 2006, the Internal Revenue Service informed
the  Partnership  that  it was being assessed  penalties  in  the
amount  of $181,900 for late filing and failure to electronically
file  its  2004  partnership tax return.   The  Partnership  out-
sourced  these activities to a third party vendor.   This  vendor
had  successfully  completed the Partnership's 2003  tax  filings
and,  prior to the notice from the Internal Revenue Service,  the
Partnership believed that the vendor had also successfully  filed
its  2004 tax returns.  The Partnership appealed these penalties.
The  Partnership did not record any provision for  this  item  in
2005 or 2006.

    On  May  1, 2006 the Partnership received a notice  from  the
Internal  Revenue Service that all the penalties related  to  the
2004 late filings have been waived.





                  BRAUVIN REAL ESTATE FUND L.P. 4
                  (a Delaware limited partnership)




ITEM  2.   Management's  Discussion  and  Analysis  or  Plan   of
Operation.

  General

  Certain  statements  in  this Quarterly  Report  that  are  not
historical  fact  constitute "forward-looking statements"  within
the  meaning of the Private Securities Litigation Reform  Act  of
1995.     Without   limiting  the  foregoing,   words   such   as
"anticipates,"   "expects,"  "intends,"   "plans"   and   similar
expressions  are intended to identify forward-looking statements.
These   statements  are  subject  to  a  number  of   risks   and
uncertainties.  Actual results could differ materially from those
projected  in  the forward-looking statements.   The  Partnership
undertakes   no   obligation  to  update  these   forward-looking
statements to reflect future events or circumstances.


Liquidity and Capital Resources

   The  Partnership  intends to satisfy its short-term  liquidity
needs  through  cash flow from its remaining property.   Mortgage
notes  payable  are expected to be satisfied through  a  property
sale.

   The  General Partners determined to pursue the disposition  of
the Partnership's assets.  In 1999, the Partnership solicited and
received the votes of the Limited Partners to approve a  sale  of
all  the  Partnership's properties, either on  an  individual  or
group basis, and to subsequently liquidate the Partnership.   The
solicitation, which was approved by the Limited Partners  in  the
third  quarter of 1999, stated that the Partnership's  properties
may  be sold individually or in any combination provided that the
total  sales price for the properties included in the transaction
equals  or exceeds 70% of the aggregate appraised value for  such
properties, which valuation was conducted by an independent third
party appraisal firm.

   Once  the  occupancy of Raleigh Springs Marketplace  has  been
stabilized, the Partnership intends to sell this property under a
closed  bid process which will include identification  of  target
buyers  with proven financing ability and performance of  certain
evaluations  of  the  properties, such as environmental  testing.
Potential  buyers  will  be  requested  to  sign  confidentiality
agreements    to   safeguard   the   Partnership's   confidential
proprietary  information.  The General Partners  have  determined
that  each  bid  must be all cash, completely  unconditional  and
accompanied by a substantial deposit.



Property Status

   Raleigh Springs Marketplace

       In  the  fourth  quarter of 2001, the  Partnership  leased
13,400  square  feet  of space to Sav A Lot, a  national  grocery
chain.  In  the  third quarter of 2004, Sav A Lot  exercised  its
first  option and extended the lease maturity through  2008.   In
the  first  quarter of 2004, the Partnership reached an agreement
in principle with AJ Wright, a national clothing retailer to take
approximately 25,000 square feet of part of the space then leased
to  Toys  "R"  Us.  The Partnership negotiated a lease  with  the
tenant, that required substantial reconfiguration to the existing
space  and  tenant  improvements.  This lease was  subject  to  a
successful  termination and buyout of the existing  Toys  "R"  Us
lease.  The Partnership reached an agreement with Toys "R" Us for
the  termination and a substantial buyout payment of Toys "R"  Us
to  the  Partnership  (such payment in the amount  of  $1,400,000
having   been  received  in  September  2004).   The  Partnership
anticipates  the  payment will cover all of  the  conversion  and
tenant build out costs required by the new tenant. The buyout  of
the  lease  was subject to the approval of the property's  lender
and  the  lender agreed to the transaction. In addition in  2004,
the  Partnership leased approximately 10,000 square feet  to  the
Veterans Administration (the "VA").  The VA lease also required a
significant build out.  The Partnership has incurred the cost  of
the  build  out and funded the expense through a portion  of  the
Toys  "R"  Us  lease  buyout.   In addition,  the  VA  will  make
additional  lease payments to the Partnership in an  amount  that
will  amortize  the  cost of the improvements  over  a  five-year
period. AJ Wright and the VA took occupancy in the fourth quarter
of 2004.

   In  the  first  quarter of 2006, the Partnership  received  an
expression  of interest in leasing the remaining space  that  was
the  former Toys "R" Us (approximately 11,000 square  feet).   In
the  second quarter of 2006 the Partnership and Marty's,  LLC  (a
regional  supplier  of mens fashion clothing)  executed  a  lease
agreement.   The tenant required significant improvements  to  be
made  to the space prior to its occupancy, which is scheduled  to
begin  in mid November 2006.  The Partnership intends to pay  for
these  improvements through the use of the escrow funds  held  by
the  First Mortgage lender (as detailed below) and available cash
on hand.

  The  Partnership  anticipates it will be  making  a  number  of
cosmetic  repairs and improvements to the center to  improve  its
marketability for sale.  These improvements will include painting
and repair of the sign band as well as minor parking lot repairs.

   In  the  second  quarter of 2005, the Partnership  executed  a
letter of intent with a national lender to refinance the existing
debt and to provide for additional tenant improvements.

   On  November  17, 2005, the Partnership paid off the  Modified
Loan  (in the amount of $3,910,423) from the proceeds from a  new
first   mortgage  loan  ("First  Mortgage")  in  the  amount   of
$4,400,000. This loan requires payments of interest only and  has
a  twelve-month maturity.  In addition, the Partnership  has  the
ability to extend this loan for an additional twelve-month period
(with the payment of an additional fee of $11,000).  Interest  is
payable based on the LIBOR rate plus 2.25%. On September 30, 2006
the total interest rate was approximately 7.45%.  The Partnership
was  also required to purchase a interest rate cap at a  cost  of
$2,500, which caps the LIBOR rate at 6.45% for a one year period.

   The  First  Mortgage  also required  the  establishment  of  a
$300,000  escrow  that  can be used for  the  payment  of  tenant
improvements and leasing commissions.

   The  First  Mortgage lender also required the  Partnership  to
create  a  special purpose entity, Brauvin Raleigh LLC, which  is
fully owned by the Partnership.  The Partnership transferred  its
ownership  interest  in the Raleigh Springs  Marketplace  to  the
special  purpose  entity.  The Partnership was also  required  to
enter  into a limited guaranty agreement.  Primarily,  under  the
terms  of  the  guaranty agreement the Partnership  will  not  be
personally  liable unless the Partnership or Brauvin Raleigh  LLC
commit  fraud  by  misapplication  or  misappropriation  of  cash
receipts.

   In  the fourth quarter of 2006, Brauvin Raleigh LLC began loan
extension  discussions with the First Mortgage  Lender.   Brauvin
Raleigh  LLC  is  currently completing the  requirements  of  the
extension.

   Sabal Palm Shopping Center

   On  December  7, 2005, the joint venture sold the  Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the  sale of $1,189,925.  Under the terms of the transaction, the
joint  venture was able to bill and retain the 2005  common  area
maintenance reimbursements.  Accordingly, in late December  2005,
the  joint  venture  billed the Sabal Palm tenants  approximately
$75,000  for  its common area reimbursement.  The  joint  venture
made  every effort to collect the remaining receivables from  the
Sabal Palm tenants.

Results of Operations

   The  Partnership's revenue and expenses are affected primarily
by the operations of the properties.  Property operations, and in
particular the components of income, demand for space and  rental
rates  are,  to a large extent, determined by local and  national
market conditions.

   These   conditions  have  generally  adversely  impacted   the
Partnership's property economics.

   The  General Partners conduct an in-depth assessment  of  each
property's  physical condition as well as a demographic  analysis
to assess opportunities for increasing occupancy and rental rates
and  decreasing  operating  costs.  In all  instances,  decisions
concerning restructuring of loan terms, reversions and subsequent
operation  of the property are made with the intent of maximizing
the  potential proceeds to the Partnership and, therefore, return
of investment and income to Limited Partners.

   In   certain   instances  and  under  limited   circumstances,
management  of  the  Partnership entered into  negotiations  with
lenders  for the purpose of restructuring the terms of  loans  to
provide  for  debt  service levels that  could  be  supported  by
operations   of   the   properties.    When   negotiations    are
unsuccessful,   management  of  the  Partnership  considers   the
possibility  of  reverting the properties to the  first  mortgage
lender.   Foreclosure proceedings may require 6 to 24  months  to
conclude.


Results of Operations - Nine months ended September 30, 2006  and
2005 (Liquidation Basis)

  As  a  result  of the Partnership's adoption of the liquidation
basis  of  accounting, and in accordance with generally  accepted
accounting principles, the Partnership's financial statements for
periods  subsequent  to July 12, 1999 have  been  prepared  on  a
liquidation basis.

  The  Partnership generated net loss of $570,000 for the  period
ended  September 30, 2006 as compared to a net loss  of  $183,000
for  the same period in 2005.  The $387,000 increase in net  loss
is   primarily   a   result  of  an  increase  in   general   and
administrative  expenses  of  $494,000,  partially  offset  by  a
decrease in interest expense of $88,000.  The Partnership's share
of Sabal Palms net loss decreased $3,000.

  Total  income  for  the  period ended September  30,  2006  was
$669,000  as  compared to $662,000 for the same period  in  2005.
The  $7,000 increase in total income was primarily a result of  a
$16,000  increase  in interest income and a  $9,000  increase  in
other income. Partially offsetting the increases in income was  a
decrease of rental income of $19,000.  Other income increased  as
a  result of a reimbursement from one of the tenants for  certain
improvements  completed  in the tenant's  space.   Rental  income
decreased  as  a  result of a decrease in  occupancy  at  Raleigh
Springs.

  Total  expenses for the period ended September  30,  2006  were
$1,228,000 as compared to $831,000 for the same period  in  2005.
The $397,000 increase in total expense was due to an increase  in
general  and  administrative expense.  General and administrative
expenses  increased  $494,000 as a result of the  buildout  costs
associated  with  the  Marty's lease.  Partially  offsetting  the
increase in general and administrative expense was a decrease  in
interest expense of $88,000 as a result of the November 17,  2005
Raleigh Springs loan refinancing.

Results of Operations - Three months ended September 30, 2006 and
2005 (Liquidation Basis)

  The  Partnership generated net loss of $149,000 for  the  three
month period ended September 30, 2006 as compared to a net income
of  $2,000 for the same period in 2005.  The $151,000 increase in
net  loss  is  primarily a result of an increase in  general  and
administrative expenses of $166,000, which was primarily  related
to  the  Marty's  buildout, partially offset  by  a  decrease  in
interest  expense of $44,000.  The Partnership's share  of  Sabal
Palms net income decreased $21,000.

  Total  income  for the three month period ended  September  30,
2006 was $212,000 as compared to $227,000 for the same period  in
2005.   The  $15,000  decrease in total income  was  primarily  a
result  of a $11,000 decrease in rental income, a $9,000 decrease
in other income and a $6,000 increase in interest income.  Rental
and other income decreased as a result of a decrease in occupancy
at Raleigh Springs.

  Total  expenses for the three month period ended September  30,
2006 were $361,000 as compared to $246,000 for the same period in
2005.  The  $115,000  increase in total expense  was  due  to  an
increase  in  general  and administration  expense  of  $166,000.
General and administration expense increased as a result  of  the
buildout  costs  associated with the  Marty's  lease.   Partially
offsetting the increase in general and administrative expense was
a  decrease  in  interest expense of $88,000 as a result  of  the
November 17, 2005 Raleigh Springs loan refinancing.


ITEM 3.     Controls and Procedures

Evaluation of Disclosure Controls and Procedures

  Our  Chief  Executive Officer and Chief Financial  Officer,  of
the  corporate  general partner, have reviewed and evaluated  the
effectiveness  of  the  Partnership's  disclosure  controls   and
procedures  (as  defined in Exchange Act Rules 240.13a-14(c)  and
15d-14(c)) as of a date within 90 days before the filing date  of
this   Annual  Report.   Based  on  that  evaluation,  the  Chief
Executive Officer and Chief Financial Officer have concluded that
the  Partnership's current disclosure controls and procedures are
effective and timely, providing all material information relating
to  the Partnership required to be disclosed in reports filed  or
submitted under the Exchange Act.

Changes in Internal Controls

  There   have   not   been  any  significant  changes   in   the
Partnership's  internal controls or in other factors  that  could
significantly  affect these controls subsequent to  the  date  of
their   evaluation.   We  are  not  aware  of   any   significant
deficiencies  or  material weaknesses,  therefore  no  corrective
actions were taken.




                   PART II - OTHER INFORMATION


  ITEM 1.  Legal Proceedings.

            None.

  ITEM 2.  Changes in Securities.

            None.

  ITEM 3.  Defaults Upon Senior Securities.

            None.

  ITEM 4.  Submission of Matters to a Vote of Security
            Holders.

            None.

  ITEM 5.  Other Information.

    In  late February 2006, the Internal Revenue Service informed
the  Partnership  that  it was being assessed  penalties  in  the
amount  of $181,900 for late filing and failure to electronically
file  its  2004  partnership tax return.   The  Partnership  out-
sourced  these activities to a third party vendor.   This  vendor
had  successfully  completed the Partnership's 2003  tax  filings
and,  prior to the notice from the Internal Revenue Service,  the
Partnership believed that the vendor had also successfully  filed
its  2004 tax returns.  The Partnership appealed these penalties.
The  Partnership did not record any provision for  this  item  in
2005 or 2006.

    On  May  1, 2006 the Partnership received a notice  from  the
Internal  Revenue Service that all the penalties related  to  the
2004 late filings have been waived.

  ITEM 6.  Exhibits and Reports On Form 8-K.

            Exhibit 99.  Certification of Officers

                           SIGNATURES


In  accordance  with the requirements of the  Exchange  Act,  the
registrant caused this report to be signed on its behalf  by  the
undersigned, thereunto duly authorized.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 14, 2006


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 14, 2006




         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)
           CERTIFICATE OF THE CHIEF EXECUTIVE OFFICER
                               OF
                     BRAUVIN VENTURES, INC.
                    CORPORATE GENERAL PARTNER
                               OF
                 BRAUVIN REAL ESTATE FUND L.P. 4

I,  Jerome  J.  Brault, Chief Executive Officer of  the  Company,
certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P. 4;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Designed   such   internal   control   over   financial
          reporting,   or  caused  such  internal  control   over
          financial   reporting   to  be   designed   under   our
          supervision, to provide reasonable assurance  regarding
          the   reliability  of  financial  reporting   and   the
          preparation   of  financial  statements  for   external
          purposes   in   accordance  with   generally   accepted
          accounting principles

     c)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     d)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.

                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4

                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 14, 2006





         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)

           CERTIFICATE OF THE CHIEF FINANCIAL OFFICER
                               OF
                     BRAUVIN VENTURES, INC.
                    CORPORATE GENERAL PARTNER
                               OF
                 BRAUVIN REAL ESTATE FUND L.P. 4

I,  Thomas  E.  Murphy, Chief Financial Officer of  the  Company,
certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P 4.;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Designed   such   internal   control   over   financial
          reporting,   or  caused  such  internal  control   over
          financial   reporting   to  be   designed   under   our
          supervision, to provide reasonable assurance  regarding
          the   reliability  of  financial  reporting   and   the
          preparation   of  financial  statements  for   external
          purposes   in   accordance  with   generally   accepted
          accounting principles

     c)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     d)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.

                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 14, 2006




                           Exhibit 99
                    SECTION 906 CERTIFICATION


The  following  statement  is  provided  by  the  undersigned  to
accompany  the  Quarterly Report on Form 10-QSB for  the  quarter
ended September 30, 2006, pursuant to Section 906 of the Sarbanes-
Oxley  Act of 2002 and shall not be deemed filed pursuant to  any
provisions  of the Securities Exchange Act of 1934 or  any  other
securities law:

Each  of  the undersigned certifies that the foregoing Report  on
Form 10-QSB fully complies with the requirements of Section 13(a)
of  the Securities Exchange Act of 1934 (15 U.S.C. 78m) and  that
the information contained in the Form 10-QSB fairly presents,  in
all  material  respects, the financial condition and  results  of
operations of Brauvin Real Estate Fund L.P. 4.




                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE:     November 14, 2006


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE:     November 14, 2006